Hispanic Resources Inc

Analysis

Hispanic Resources Inc is a registered charity in United States, based in W Springfield, MA. It received its IRS tax-exemption ruling in January 1988, 38 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Hispanic Resources Inc reported income of $272k and spending of $183k, leaving 33% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $196k to $272k (+39%), an average of +6.8% a year. The sharpest change came in the year to June 2023, when income rose by 25%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hispanic Resources Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 62nd percentile within MA. Charities of a similar size with the same main cause include Osceola Chamber Main Street ($272k), Highland Community Association Inc ($273k) and Wolfeboro Cross Country Ski Association ($272k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.5% and program service revenue 98% of the total. At year end it held assets of $1.6m against liabilities of $1.0m, net assets of $598k.